The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-21
KERsHAw g. co. WOUND UP.
A Receiver Appointed Just i'll Time to
Head off the Creditors.

11OttO Ol1 VIC VI
CHICAGO, June 20-Charles j. Kershaw
filed bill in the Superior Court this morn
ing against his partners, Dewar & Eggles-
ton. The bill asks TO have the partnership
dissolved, and an accounting order granted
and receiver appointed. The court ap-
pointed Porteus t. B. Weare as receiver,
and that gentleman filed a $50, 600 bond
A COMPLAINT BILL FILED.
Joseph F. Hill and Adolph FleItsheim, of
Milwaukee, filed bill of complaint against
c. j. Kershaw & Co. in the United States
District Court to-day. The suit is brought
in behalf of all the creditors of the limited
partnership Of Kershaw q Co. who may
elect to come in under this bill and become
parties to the suit The bill alleges that
Kershaw & Co. contracted to deliver large
quantities of wheat in May, June and July
1887, and incurred pecuniary obligations to
the sum of 81 ,000, 900; that its capital stock,
property, assets and effects were of much
less value than the amount of its debts and
liabilities and wholly insufficient to pay the
same in full or pay more than about SOC. ON
the dollar, and that the firm for several
days prior thereto had great difficulty in
paying its debts and that its insolvency was
then known to the members OF the firm
The bill further says that the petitioners have
had large transactions with the firm, and
that on June 16 the copartnership was in
debted to them in the sum of Sl30000. It is
charged that Kershaw & Co. unlawfullv
paid the American Exchange Bank about
S500,000, Irwin, Green q Co. $500, coo, c. B.
Eggleston 100000, and David Irwin $780,
600. The petitioners ask that a receiver be
appointed. They also charge that Kershaw
& Co. has in its possession grain and assets
to the amount of $500, 1000, and say that un-
less receiver is at once appointed the
property is liable to be seized. The bill
also says that the sum of $500, 900 is due the
American Exchange Bank and Irwin,
Green & Co., which is liable to be garni-
sheed, as it is known that certain debtors
deposited in the American Exchange Bank
100000, and that Of that amount the bank
has between $500 900 and $400,000 in its
vaults. The bill also asks that Kershaw &
Co., the American Exchange National
Bank, ID. w. Irwin and A. L. Dewar, their
attorneys or agents, be enjoined from pay
ing to any person or persons, any money
that may come into their possession. When
the announcement was made that receiver
had been appointed for C. j. Ker shaw 81
Co., the meeting of the creditors, which
was to have taken place this afternoon, was
Immediately declared off. The creditors
will meet to hear the report of the receiver
as soon as he can arrive at some conclusion
as to the assets and liabilities of the bank
rupt firm. This may take a week. There
has never been before a failure on the
Board of Trade so full of complications as
this.
ECHOES OF THE WHEAT DEAL
NEW York, June 20.-The Bank of Mon
treal has obtained from Judge Donohue, of
the Supreme Court an attachment in this
State against the Fidelity National Bank
of Cincinnati. 1t was procured in the suit
instituted to recover 5000, 900, the value of
two checks of 100000 each, drawn by the
Fidelity Bank, at Cincinnati, ON June 4,
payable to the order of J. W., Wiltshire at
the Chemical National Bank, of this city,
and indorsed by the payee, j. w. Hoyt and
Irwin Green & Co., of Chicago, and pro-
tested by the Chemical Bank. The suit is
an echo from the Chicago wheat smash.